Caesars Entertainment Corp. re-establishment of a new entity

Caesars Entertainment Corp. (Caesars Entertainment Corp.) intends to make major adjustments to the corporate structure, the establishment of new business entities, the Planet Hollywood Hotel and Casino (Planet Hollywood Resort), interactive gaming business and casino under construction in Baltimore classified to the new entity ʱ??

Wednesday, the state Gaming Authority initially proposed by Caesars Entertainment Corp. above plan, while Caesars Entertainment Inc. in a report to the US Securities and Exchange Commission said, intends to sell shares for the new economic entity to raise $ 1.18 billion.

Caesars Entertainment Corp. set up in the United States more than 50 casinos and hotels, there are 10's Vegas. Caesars Entertainment Corp. was in April this year, said, intends to establish a new economic entity, in order to provide funds to potential investment projects, and strengthen the balance sheet.

Caesars Entertainment Corp. long-term debt had reached $ 21.1 billion, of which $ 500 million debt from Planet Hollywood Hotel Casino, the debt will be transferred to the new company together.

Caesars Entertainment Corp., said the company will not change the operation, but the company structure has changed.

Caesars Entertainment Corp., said the company in order to allow shareholders to $ 9.43 per share price to buy Caesars acquisition of company stock.

Caesars Entertainment Corp. which plans an announcement, the day of the company's stock rose 13 percent, to $ 15.94 per share closing earlier this year so far, Caesars Entertainment Corp.'s share price has more than doubled.